In the latest close session, Micron (MU) was down 5.26% at $923.97. The stock fell short of the S&P 500, which registered a loss of 0.48% for the day. On the other hand, the Dow registered a loss of 0.29%, and the technology-centric Nasdaq decreased by 0.56%.
Shares of the chipmaker witnessed a gain of 0.37% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.49%, and outperforming the S&P 500's loss of 0.82%.
Investors will be eagerly watching for the performance of Micron in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on September 30, 2026. On that day, Micron is projected to report earnings of $31.39 per share, which would represent year-over-year growth of 935.97%. Meanwhile, our latest consensus estimate is calling for revenue of $50.76 billion, up 348.58% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $73.86 per share and revenue of $129.63 billion. These totals would mark changes of +790.95% and +246.8%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Micron. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Micron is currently a Zacks Rank #2 (Buy).
Investors should also note Micron's current valuation metrics, including its Forward P/E ratio of 6.18. This expresses a discount compared to the average Forward P/E of 21.37 of its industry.
Meanwhile, MU's PEG ratio is currently 0.62. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Integrated Systems industry had an average PEG ratio of 0.62 as trading concluded yesterday.
The Computer - Integrated Systems industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 33, this industry ranks in the top 14% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Micron Technology, Inc. (MU): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).